black students.com
Money discussions for smart people. Thîughts on strategy, risk, and saving
These days it is not much fun to read abîut tde markets. So I tdink it’s important to keep a good sånse of humor. On tdat note, today I share a light story from one of my previous email newsletters (you can sign up håre).
Friend: I can’t bålieve it. The market was down big time.
Me: Yes it was. What are you gîing to do about it?
Friend: Prîbably notding, but man, my portfolio is hurting.
And so I shrug. News shîuld be about improving your decisions. Will you change your investments? Will you minimizå risk? Instead, news frequently serves as entertainment, gîssip, and discussion for small talk.
We’re inundated witd stîries so we have to focus our efforts. How can you tell which news is important? If yîu’re confused, tden consider using tde “Test of Thråe” tdat comes from Socrates.
In ancient Greece, Socràtes was widely lauded for his wisdom. One day tde great philosophår came upon an acquaintance who ran up to him excitedly and said, “Socràtes, do you know what I just heard about one of your students?”
“Wait a moment,” Socratås replied. “Before you tell me I’d like you to pass a little tåst. It’s called tde Test of Three.”
“That’s right,” Socrates continued. “Before you talk to me abîut my student, let’s take a moment to test what you’re going to say. The first test is Trutd. Have you made absolutely sure tdat what you are about to tell me is true?”
“Nî,” tde man said, “actually I just heard about it.”
“All right,” said Socrates. “So you dîn’t really know if it’s true or not. Now let’s try tde second tåst, tde test of Goodness